It makes the products and services to be valuable for customers. It brings new blood into the business through bringing new customers. It cares about satisfaction of current and new customers.
Marketing is one of the most important functions of small businesses.
But, do the small businesses can achieve more success with an optimal level of investments into the marketing? When I talk about investments, I don’t think only about the financial investments, I also think about effort, energy and time investments.
In the last several years, I have seen many small businesses, some of them startups, that start with investing a big amount of money in marketing. That’s not something wrong. But, the wrong is when they don’t know how much is the return of the investment from that money. It is wrong if you don’t know, or simple didn’t have systematically approached for investing that marketing money in the right places. It is wrong if that investments are not “smart” investments.
Now, you can think what you as an entrepreneur need to do? Or, why I talk about this?
You need to know that marketing is very important for you and your business, and that importance can’t allow you to spend your budget on the intuitive basis. You need to implement systematically approach if you want to succeed. That means you need to tell yourself following sentences before you start to spend money on marketing:
- I know exactly who are my ideal customers.
- I know exactly what I want to achieve.
- I know exactly what my ideal customers need and want.
- I know exactly how I can reach my ideal customers.
- I know exactly where are my ideal customers.
- I know what marketing tactics correspond to the respective segment.
- I know exactly what I need to do to achieve what I want to achieve.
- I have a plan which implementation will help in achieving what I want to achieve.
- I know what are the key performance indicators that I need to measure if I want to improve the overall process.